Business profit jumps in financial year 2016/17

Some good news in trying times. After two consecutive years of decline, South African businesses recorded a 49% increase in net profit before tax in financial 2017, according to Stats SA’s latest Annual financial statistics (AFS) survey. The mining industry was the largest contributor to this rise.

The recession ends as GDP climbs by 2,2%

Tourism jobs grow despite sluggish economy

With concerns over job losses in major industries, the tourism sector has shown some resilience in the face of a tough economic climate. In 2017, the sector had its most successful year of job creation in recent times.

General government spending slows in 2016/17

Indicative of an economy under strain, expenditure by general government increased by just 4,7% from 2015/16 to 2016/17. This is the lowest annual rise in spending on record since 2005/06, when Stats SA started publishing the current series of its Financial statistics of consolidated general government report.

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